How the mighty tumble: Universal in SEC probe

posted by Oh Yeah

Vivendi Universal, the ultimate parent company of Universal Music, is under US Securities and Exchange Commission investigation over their accounting standards. It follows the kerfuffle with their leadership surrounding Messier as chairman in July — and then shareholders filed a class-action suit against the company in New York, alleging that Vivendi Universal had masked the gravity of its liquidity problems. SMH coverage.

Editor’s note: there’s a criminal investigation, too.

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